#HELSINKI — Leading Chinese launch startup Galactic Energy has secured $154 million in funding for the development of its reusable Pallas-1 #rocket.
Galactic Energy announced the 1.1 billion yuan C and C+ funding rounds Dec. 18. The funding will go towards research and development of reusable launch vehicle technology for the Pallas-1 medium-lift rocket and related infrastructure.
The rounds were led by Ziyang Heavy Industry Fund and joined by Bengbu Investment Group, Langfang Linkong, Founder Hesheng Investment, Jintuo Capital, and further undisclosed Investors, according to a company statement.
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chris kasongo great